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All but one of 36 Lots sell at Osborne King property auction

Business was brisk this morning at the latest Osborne King auction at the Holiday Inn on Ormeau Avenue in Belfast when 36 properties across Northern Ireland were scheduled to come up for grabs. As it happened, 12 of the 36 Lots were sold prior to auction and this morning 23 of the remaining 24 sold for an overall total of GBP 1,705,550 (€2,104,649). The auction catalogue is here. The results are here.

The well-attended auction this morning comprised punters described as builders in boots, investors and retired couples. No prominent developer was observed, save for Michael Herbert and his wife Lesley, who are developers in Northern Ireland, the Republic and England and owners of KFC and Herbel restaurants – they didn’t get their wallets out today apparently.

All but one of the 24 Lots offered this morning were sold. The unsold Lot 25, a site in Newtownabbey, county Antrim had a maximum reserve of GBP 110,000 but bidding topped out at GBP 77,000. The remaining 23 Lots fetched GBP 1,705,550 – some 14.5% above the associated maximum reserves which came to a total of GBP 1,490,000.

On this side of the Border, all eyes are focused on the next Allsop Space 109-Lot mega auction being held on 4th December, 2012 – which just happens to be the eve of the announcement of Budget 2013 in the Dail by ministers Michael Noonan and Brendan Howlin. Unlike Osborne King, Allsop Space will not sell Lots before auction.There was a note this week that any punters considering bidding on the Allsop Space property at Dartmouth Square, Dublin are required to pre-register with Allsop Space beforehand which involves cleared funds being lodged as deposit, with a bidding number being assigned.